Friday, June 14, 2013

dba

(Doing Business As)

This week I went to a two hour workshop on gross receipts tax. For those of you who don't live in New Mexico, this state doesn't have sales tax. We have gross receipts tax. What that means for me is that everything is taxed. If I sell yarn, there is tax. If I teach a workshop, there is tax. At least if it is in New Mexico. I've had this class before but I needed a refresher. The Small Business Development Center at Santa Fe Community College puts the classes on. The teachers are the people at NM Tax and Rev who recommend you for audit. They are very good people to listen to. And I have to say that they are also very nice (at least on this side of an audit).

So being an artist and a teacher, there are times where I just forget about charging tax. My colleague Conni who is in cahoots with Emily is excellent at reminding me about this. So from now on, this is fair warning. There will be gross receipts tax! (It is either that or I raise my prices 8.1875%, variable quarterly. Take your pick.)

This is all the cost of doing business. Hours in classes. Hours at a computer trying to figure out how to manage things like taxes and Pay Pal and websites and all. But it seems worth it. I am expanding my world. And I get to make stuff most days. That is very very cool.

Whew. I feel better now.

 (Don't you wish some days we could still use one of these?)

3 comments:

  1. DO I!! There was a time when it was all so much simpler. Weren't computers etc-suppose to make live easier or did I get left out of the loop. Think I'll be in santa fe around the middle to end of July. Will you be around?

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    1. I will definitely be around then Kathe! Please come by and see me and my studio! If you're driving I'll have a small order for you too.

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  2. It'll get easier as you learn what needs to be done! I feel like I add one more thing that I need to keep track of every year after we do our taxes. Now I'm getting paperwork ready to incorporate myself (yikes!).

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